All Forum Posts by: Adrian Lemus
Adrian Lemus has started 20 posts and replied 131 times.
Post: Who is responsible for cleaning during construction of a SFH?
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
Me as a Contractor take pride that my guys and myself clean up after ourselves everyday BUT if a Sub that I did not contract comes in to do work, we will not clean after them and I make sure I make that clear to the Sub and the owner/Investor. No one has any excuse to not clean up after themselves because I always take two brooms, a scooper, Large Heavy Duty Trash Bags, and almost always have a container outside.
For me it’s a big thing to clean everyday because at the end of the project it makes everything a lot easier, day to day process smoother, and it’s not overwhelming for the Owner/Investor when they want to pass by
Post: How to aquire Mailing List
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
Quote from @Allan Smith:
Extensive info on this in bp forums, more so in marketing and wholesaling categories.
the big banger is listsource.com. some people use their crm to pull lists, like propstream or myreipro or their skip trace software too.
Post: How to aquire Mailing List
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
Hello BP Fam!
I have been trying to look into Acquiring Mailing lists for certain zip codes. Does anyone know how to do this besides using an online company to do the mail out for you?
Post: What would you do? Should I invest in this property?
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
Quote from @Luis Maqueira:
I agree "The first 3 rules of real estate investing are…” Location, location and location “. Today in Miami you rent a unit in a day. We don't have enough inventory. I will be more concerned about the repairs and quality you will take the units up to. Then, the rent you need to get for it to make it a good deal.
In our units in South East Florida parking and location yes, patio not a deal breaker.
God Luck,
Agree!
Post: Where is the real estate market headed?
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
Quote from @Vicki Ducanois:
Hi, I agree with your above statements and believe that you are lucky that your 3 new builds already have cash buyers. I just moved up to South Carolina from West Palm Beach Fl. into a very rural area, Greenwood, hoping that I could start an investment business of building homes, renewed my broker license up here too. Now I am scared to death, the housing market in SC is not a great place for high investment. I was hoping to build two homes paying cash, one would sell for $550,000 the other for $350,000 but now am not sure I would get these amounts as the market really seems to be crashing here in real estate. The local people here don't have that kind of money and must take out a mortgage. Mortgage rates are going thru the roof and they are saying it will increase. I really don't know what to do. Should I go forward knowing there will be very little income profit? Any advise?
Come back to WPB!
Post: reliance on realtors & contractors for SFR v/s multi-unit props.
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
Quote from @Justin Winn:
I would point to recent news of condominiums in Miami, FL. I wouldn't depend much on others who you don't know and trust. I believe it was a year or two ago that an entire condominium collapsed because the management failed to do their duties for maintenance and management for too many years. So I would always encourage you to lean on your trusted advisors, as well as research any HOA for how that money is being managed.
Best of luck.
I agree. FYI, from that incident at the Beach, the agencies has tighten up their requirements and has made sure that all inspectors and Contractors are on point on the Maintenance, Builds, and remodels of the MultiFamily in Miami
Post: Please Help, First time on Airbnb
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
Miami Lakes AirBnb? I don’t think that would work. I would go more with a long term Rental/Lease.
Post: What is your biggest challenge with contractors?
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
As a Contractor myself, my biggest challenge is staying in budget as much as i can, making sure the investor is not building a house for himself to live in as it happens in a lot of cases and they lose in the back end, and staying on schedule.
Budget: I can give a ball park number and where we should be at Sqft costs, as long as the investor doesn’t go Crazy, I usually am within +$5 of my proposed Sqft Costs
Investor: Rookies have the same mentality, Let’s build this flip like we see on TV! A Big NO NO!!!! What you see on TV compared to reality is very harsh!
Schedule: There are too many factors, as Covid still being an issue with some of my subs, Storms, Someone getting sick, doctor appts, materials, holidays, Birthdays, Funds, Equipment Breaking down, Etc. But I’m usually done with a complete remodel within 3-5 months.
Post: Looking Multifamily Investors to create Mastermind group
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
If you ever need a Contractor for your Fix & Flips and New Constructions please don't hesitate to reach out to me!
Post: Is the Housing Market Overvalued Today?
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
Quote from @Aaron Gordy:
The market hasn't shifted to a buyers market. Its shifted from where it was a few months ago when sellers could ask any price and get it. For example, last year a house in Leander (Austin suburb) received over 99 offers and was bid up by over 100k. The months of inventory was below 1 month. Nowadays the months of inventory is around 3 months in the Austin metro which still indicates a sellers market. Nowadays sellers aren't able to put lipstick on a pig and get 50 offers with many way above list price. Sellers are dealing with a new reality. When months of inventory balloons then its time to consider it to be a buyers market.
Since you are in Miami look at the Little Haiti area. The last time I was in South Florida (last year) I almost bit on a property there and a property in northern part of Fort Lauderdale.
He’s right about Little Haiti, there’s a lot of opportunities there and Cutler bay is getting hot too.